Forefront of an emerging market

The roll-out of MediaConsent positions ShareRoot at the forefront of the high-growth, billion dollar Customer Identity Management (CIM) market.

CIM refers to businesses storing identity-related data of their customers.

The market is estimated to grow at an annual compounded rate of 12.9% from US$8.09 billion in 2016 to US$14.82 billion by 2021.

A major driver of the market is the increase in security concerns among organisations.

During September 2017, German software giant, SAP SE (ETR:SAP) acquired CIM company Gigya for US$350 million.

Changing legal landscape

With a constantly changing legal landscape, companies must adhere to rules and regulations or face legal costs, fines and brand degradation.

Examples of the legal framework which MediaConsent intends to protect include GDPR, COPPA, internal policies and opt in regulations.

For example, the General Data Protection Regulation (GDPR) alone will be penalising companies 4% of worldwide revenue per infraction.

GDPR is a European Union (EU) regulation that requires businesses to protect the personal data and privacy of EU citizens for transactions that occur within EU countries.

Silicon Valley team to get the job done

ShareRoot has the personnel in place to ensure MediaConsent’s successful roll-out, which will be spearheaded by Noah Abelson, CEO and Jason Weaver, Head of Product.

Significantly, Weaver, who has led the MediaConsent expansion, joined ShareRoot in July 2017 with a strong track record as an entrepreneur.

He has more than two successful social media ventures under his belt and has raised over US$50 million in social media technology funding.

Weaver founded and grew a social media group called Shoutlet to more than 100 team members and sold it to a larger U.S. social media group in 2015 called Spredfast.

Expansion to complement existing business

The roll-out and upcoming launch of MediaConsent will complement ShareRoot’s current platform that works with brands and digital agencies to easily find and legally source user generated content (UGC).

What is user-generated content?

User-generated content (UGC) is the term used to refer to user-generated photos, videos, tweets, or other creative material, often shared socially, and used by brands for marketing or advertising purposes.

Industry data shows that visitors spend 90% more time on websites that include UGC galleries.

UGC is important in a commercial context because:

• 86% of buyers want to access visual content on demand;
• 65% of users seek out UGC before making a purchase;
• A consumer consults 4 UGC sources before making a purchase;
• 65% of consumers prefer to know a brand through content;
• Social campaigns with UGC have a 50% lift in engagement; and
• Ads with UGC content generate 5-times greater click-through rates.

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